New York, June 11, 2026, 11:58 EDT
- Plug Power shares hovered at around $2.78, off roughly 3%. The stock has fallen for six sessions in a row and the slide continued.
- The company’s annual-meeting docs point to being EBITDAS-positive by the end of 2026, reaching positive operating income by the end of 2027, and turning profitable overall by the end of 2028.
- Investors are looking at those targets, set against recent market swings, worries about cash use, and Plug’s most recent steps to shore up liquidity.
Plug Power Inc. shares dropped late Thursday morning. The move came as U.S. stocks tried to bounce, but investors held focus on the hydrogen firm’s annual meeting and new profit goals. PLUG last traded at $2.775, off $0.085 from the $2.86 Wednesday close. Volume ran past 20 million shares, with the day’s range between $2.75 and $2.93.
Plug Power fell again Wednesday, losing 1.72% to $2.86. That was its sixth losing session in a row, according to MarketWatch. The Nasdaq Composite dropped 1.98% and the Dow Jones Industrial Average slid 1.87% the same day. Plug shares are now down 37.55% from their 52-week high of $4.58.
The broader market held a firmer tone Thursday, bucking the day’s move. Reuters said Wall Street indexes climbed as investors moved into beaten-down tech names. The Dow gained 0.90%, S&P 500 rose 0.81%, and Nasdaq added 1.07% at the time of that report.
Plug Power is looking ahead to its 2026 annual meeting, set for 10:00 a.m. Eastern Time. According to a June 11 SEC filing, CEO and President Jose Luis Crespo plans to present a corporate overview and review the company’s presentation slides. Plug said stockholders of record can send in questions in writing.
Plug gave investors a timeline for its turnaround plan. The company said it wants to see EBITDAS-positive results by the end of 2026, positive operating income leaving 2027, and overall profitability after 2028. Plug’s management focused the plan on material handling, electrolyzers and hydrogen plants.
Plug’s Project Quantum Leap, a cost and execution effort, got attention in the presentation. The company said it posted a positive gross profit in the fourth quarter of 2025, saw about 50% lower cash use compared to 2024, and reported margin gains in equipment, service, and hydrogen units.
Plug in its operating update talked up how much it’s built out in current businesses. The company reported it has over 74,000 GenDrive fuel cell units running at more than 280 locations. It named electrolyzer deals with Galp Energia in Portugal, Iberdrola/BP in Spain, and Carlton Power/Barrow Green in the U.K. Plug listed hydrogen plants with a network capacity of 15 tons per day in Georgia, 15 tons per day in Louisiana, and 10 tons per day in Tennessee. The company said “live capacity” is nameplate or design capacity, not output numbers.
Plug Power’s liquidity story is still front and center. Earlier this month, the company announced it closed a sale of about $39.2 million from a federal investment tax credit tied to its St. Gabriel hydrogen liquefaction site in Louisiana. The facility runs under Hidrogenii, which is Plug’s joint venture with Olin Corporation. “Plug continues to execute multiple capital efficiency initiatives designed to strengthen liquidity while supporting the scale-up of our hydrogen platform,” Crespo said in the release. Plug Power
Plug’s annual-meeting remarks follow its May first-quarter numbers. The company posted $163.5 million in revenue, up 22% from a year ago. GAAP gross margin improved to negative 13%, compared with negative 55% last year. Adjusted EPS was negative $0.08, less loss than negative $0.17 in the prior period.
Analysts are split. Of 13 tracked by Google Finance, five rate the stock Buy, six say Hold and two have Sell. The average 12-month price target sits at $3.61. That’s above where shares trade now, but still well under the top call of $7.00.
